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dc.contributor.authorKlepper, Mathisen_US
dc.description.abstractThis paper investigates technology adoption of a single firm in a continuous time model with an infinite planning horizon and an infinite number of investment opportunities. Technological progress is exogenous and modeled either by a poisson process or a geometric poisson process. For both processes, we characterize the optimal investment strategies. In the case of a poisson process we show that a cyclical investment pattern, that is adopting every m-th technology is optimal. If technological progress is modeled as a geometric poisson process, we argue that the number of technologies not adopted between two adoptions decreases with time, until finally each new technology will be adopted.en_US
dc.publisherVerein für Socialpolitik Frankfurt a. M.en_US
dc.relation.ispartofseriesBeiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Dynamic Models of Investment D8-V1en_US
dc.subject.keywordTechnology adoptionen_US
dc.subject.keywordTechnological uncertaintyen_US
dc.subject.keywordInvestment irreversebilityen_US
dc.subject.keywordOptimal timingen_US
dc.titleA simple model of investment with an infinite number of technologiesen_US
dc.typeConference Paperen_US
Appears in Collections:Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie

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